Gold prices decline for the second consecutive week with the precious metal off by more than 1.8% to trade at 1210 ahead of the New York close on Friday. The move carves a well-defined range in price between key inflections zones. Here are the updated targets and invalidation levels that matter on the XAU/USD weekly chart. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

Gold Weekly Price Chart

Technical Outlook: In our last Gold Weekly Technical Outlook, we continued to highlight a critical resistance confluence at 1235/38 with the immediate long-bias at risk while below. Our ‘bottom line’ cited that price had, “already set